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Jan 7, 2013
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the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is they have to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. advice is' thoughtful, but when asked if they would expect -- accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd like to take tough positions but we do not like to make tough calls. >> i think we will see something inherently different. i think the president is serious when he says he will not negotiate over the debt ceiling. he should not. this is something that is artificial. >> will the new congress make a difference? more women, more latinos, gays and lesbians. will the makeup of congress make a difference? >> if anything, congress is more polarized because of redistricting. this is part of the problem. >> you do not see a ted cruz of texas and elizabeth warren coming to terms over leg
the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is they have to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. advice is' thoughtful, but when asked if they would expect -- accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd...
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Jan 7, 2013
01/13
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. >> let me talk about a preview of coming attractions and the fights ahead, including the debt ceiling that was so bitterly contested back in the summer of 2011. here is something you said in august of 2011 that i wanted to show our viewers and have you respond to. you said then, i think some of our members may have thought the default on paying america's bills issue was a hostage you might take a chance at shooting. most of us don't think that. what we did learn is this. it's a hostage that's worth ransoming. is that the strategy for the coming fight over the debt
. >> let me talk about a preview of coming attractions and the fights ahead, including the debt ceiling that was so bitterly contested back in the summer of 2011. here is something you said in august of 2011 that i wanted to show our viewers and have you respond to. you said then, i think some of our members may have thought the default on paying america's bills issue was a hostage you might take a chance at shooting. most of us don't think that. what we did learn is this. it's a hostage...
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Jan 7, 2013
01/13
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and this is going to be used, the debt ceiling is going to be used to get cuts. mitch mcconnell has said something similar. so you have the president saying one thing, but those in the house and senate, the republican leaders, saying something completely different. >> shannon: yeah, they think this is going to be all about spending ab that's the comfort. house minority leader nancy pelosi saying hey, we're not done talking about revenue, there could be tax increases with part of this negotiation. >> and the president himself said in the midst of the fiscal cliff deal when it looked like a deal, that this does not end the tax debate, but the the republicans say, that you know, there's 80 trillion dollars in unemployment liabilities no matter what you do in taxes, that's not going to solve where the problem is, which is medicare, social security, and medicaid, entitlement reform and they gave in, they thought on raising taxes and revenue and want to focus pretty much exclusively on entitlement spending. >> jamie weinstein, it's going to be an interesting couple of
and this is going to be used, the debt ceiling is going to be used to get cuts. mitch mcconnell has said something similar. so you have the president saying one thing, but those in the house and senate, the republican leaders, saying something completely different. >> shannon: yeah, they think this is going to be all about spending ab that's the comfort. house minority leader nancy pelosi saying hey, we're not done talking about revenue, there could be tax increases with part of this...
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if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of what happened. they think will lives lost in the last debate what do you make of that? the republicans were in a much weaker bargaining position. what speaker boehner was doing anything that taxes went up at midnight on december 31. he actually got a tax cut compared where would've been. everybody else was going to get higher income taxes and they didn't. in this case from the president keeps more than what speaker boehner caved. the. gerri: you make a good point. i wanted to respond one more thing, which i found interesting. steve moore of "the wall street journal" said we had heard that i'm not going to negotiate with the president anymore and
if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of what happened. they think will lives lost in the last debate what do...
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Jan 7, 2013
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let us right now, why don't the republicans announce, we will take the debt ceiling off the table. we have other power to use. let's get rid of that issue right now. that would be great for the economy because there would be some certainty that we're not going down this crazy -- >> i think if mcconnell had said that this morning, the markets would have gone up 200 points. >> newt gingrich and i probably disagree radically on what needs to be done, because i think we need more revenue than we got in this deal. but the other thing is we forget how much we have already done. there has been one deal after another after another that has cut spending very significantly. and that's why to say it's now only about spending and no more revenue on the table is just a big mistake. we have cut a lot. >> you would get broad widespread agreement if the revenue argument was, as simpson-bowles have suggested, a vast simplification of the tax code. this latest deal complicated the tax code. continued corporate welfare. simplify the tax code. close the hoop holes, lower the rates, you would get broad
let us right now, why don't the republicans announce, we will take the debt ceiling off the table. we have other power to use. let's get rid of that issue right now. that would be great for the economy because there would be some certainty that we're not going down this crazy -- >> i think if mcconnell had said that this morning, the markets would have gone up 200 points. >> newt gingrich and i probably disagree radically on what needs to be done, because i think we need more...
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Jan 7, 2013
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we are going to see only cuts as sort of an agreement around this debt ceiling. so does that impact certain sectors and earnings? >> maybe. but we're a wash in liquidity again. we're in that type of market. >> yes. >> i think the economy is going to end up being far stronger than people realize. that will take over and overtake the fiscal austerity. however we get there, i don't think we're going to do europe in terms of austerity. we're not doing greece. these guys are not ready to do that type of deal. i doubt the president will get a trillion dollars in tax increases and in spending cuts. >> we'll leave it there guys. final word, jack. go ahead. >> how we get there doesn't matter much. over the weekend they're going after the energy industry. whether they can get that done or not. that's to be determined. but there's some real sector implications as to how we see this austerity measures coming together. >> good point. thanks, gentlemen. we appreciate it. we'll be watching the markets ahead of earnings for sure. >>> more than 250 retail executives rub elbows at
we are going to see only cuts as sort of an agreement around this debt ceiling. so does that impact certain sectors and earnings? >> maybe. but we're a wash in liquidity again. we're in that type of market. >> yes. >> i think the economy is going to end up being far stronger than people realize. that will take over and overtake the fiscal austerity. however we get there, i don't think we're going to do europe in terms of austerity. we're not doing greece. these guys are not...
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Jan 7, 2013
01/13
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. >> let me talk about a preview of coming attractions and the fights ahead, including the debt ceiling that was so bitterly contested back in the summer of 2011. here is something you said in august of 2011 that i wanted to show our viewers and have you respond to. you said then, i think some of our members may have thought the default on paying america's bills issue was a hostage you might take a chance at shooting. most of us don't think that. what we did learn is this. it's a hostage that's worth ransoming. is that the strategy for the coming fight over the debt ceiling? >> well,
. >> let me talk about a preview of coming attractions and the fights ahead, including the debt ceiling that was so bitterly contested back in the summer of 2011. here is something you said in august of 2011 that i wanted to show our viewers and have you respond to. you said then, i think some of our members may have thought the default on paying america's bills issue was a hostage you might take a chance at shooting. most of us don't think that. what we did learn is this. it's a hostage...
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Jan 7, 2013
01/13
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i don't know that he would be ready to refuse to lift the debt ceiling, but he sees himself as having won something, chris. and i think boehner sees himself as having lost something and win back the republicans. i think we're still in for an ugly few months. >> what a country. let's drop left wing, right ring. we're the city on the hill, right? what a joke. we're teaching democracy this way? >> i'm not sure the framers of the constitution envisioned a day when the members of congress would hold the president hostage without paying their own building. you have the c.r., continuing resolution running out in march. you have the sequestration deadline and the debt ceiling hitting at the same time. this is going to be a three ring cliff, three cliff circus coming up very soon. and if you have this group that doesn't believe in compromise, it's going to be very hard to get through this wouithout a lo of blood in the water. >> i hope this goes away. anyway, thank you. thank you, it ought to be about building, not destroying. thank you. anyw anyway, when we return, let me finish with why i th
i don't know that he would be ready to refuse to lift the debt ceiling, but he sees himself as having won something, chris. and i think boehner sees himself as having lost something and win back the republicans. i think we're still in for an ugly few months. >> what a country. let's drop left wing, right ring. we're the city on the hill, right? what a joke. we're teaching democracy this way? >> i'm not sure the framers of the constitution envisioned a day when the members of...
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Jan 7, 2013
01/13
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after the debt ceiling was resolved in summer 2011, amerco's are grading was -- america's federating list downgradined. i understand your views about spending. how do you for so spending cuts? the president said we will not negotiate over increasing the debt ceiling. you say despite what the business community thinks, you may have to push it to the brink again. >> the biggest problem confronting the country is excessive spending. when will we deal with it? we have watched the government explode over the last four years. we have dealt with the revenue issue. will the president lead? why should we have to bring him to the table whe ? >> senator mitch mcconnell on nbc's "meet the press." should spending be tied to an increase on the debt limit? cited a poller' that cited 72% of respondents -- what do you think? kevin is from south carolina. from new york.eve independent. guest: i am a funny person. i am in the green party i voted conservative. i have been on disability for 38 years. iwatch all of the committee hearings on c-span. i would take the new cost of living cut and offer somethi
after the debt ceiling was resolved in summer 2011, amerco's are grading was -- america's federating list downgradined. i understand your views about spending. how do you for so spending cuts? the president said we will not negotiate over increasing the debt ceiling. you say despite what the business community thinks, you may have to push it to the brink again. >> the biggest problem confronting the country is excessive spending. when will we deal with it? we have watched the government...